Dividend Assets Capital 13F-HR Quarterly holdings report by institutional manager

The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE

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COLUMN 1	COLUMN 2	COLUMN 3	COLUMN 4	COLUMN 5			COLUMN 6	COLUMN 7	COLUMN 8
			VALUE	SHRS OR	SH/	PUT/	INVESTMENT	OTHER	VOTING AUTHORITY
NAME OF ISSUER	TITLE OF CLASS	CUSIP	(x$1000)	PRN AMT	PRN	CALL	DISCRETION	MANAGER	SOLE	SHARED	NONE
3M CO	COM	88579Y101	251	2,294	SH		SOLE		2,294	0	0
ABBOTT LABS	COM	002824100	212	6,071	SH		SOLE		6,071	0	0
AFLAC INC	COM	001055102	1,096	18,863	SH		SOLE		18,863	0	0
AIR PRODS & CHEMS INC	COM	009158106	327	3,576	SH		SOLE		3,576	0	0
ALLIANCE RES PARTNER L P	UT LTD PART	01877R108	373	5,276	SH		SOLE		5,276	0	0
APPLE INC	COM	037833100	28	70	SH		DFND		70	0	0
APPLE INC	COM	037833100	360	907	SH		SOLE		907	0	0
APTARGROUP INC	COM	038336103	1,031	18,680	SH		SOLE		18,680	0	0
AT&T INC	COM	00206R102	4	102	SH		DFND		102	0	0
AT&T INC	COM	00206R102	672	18,983	SH		SOLE		18,983	0	0
AUTOMATIC DATA PROCESSING IN	COM	053015103	54,933	797,746	SH		SOLE		797,746	0	0
BALL CORP	COM	058498106	489	11,760	SH		SOLE		11,760	0	0
BANK OF AMERICA CORPORATION	COM	060505104	198	15,391	SH		SOLE		15,391	0	0
BANK OF THE OZARKS INC	COM	063904106	4	100	SH		DFND		100	0	0
BANK OF THE OZARKS INC	COM	063904106	2,043	47,160	SH		SOLE		47,160	0	0
BECTON DICKINSON & CO	COM	075887109	299	3,030	SH		SOLE		3,030	0	0
BIOGEN IDEC INC	COM	09062X103	453	2,106	SH		SOLE		2,106	0	0
BOEING CO	COM	097023105	538	5,255	SH		SOLE		5,255	0	0
BP PLC	SPONSORED ADR	055622104	214	5,129	SH		SOLE		5,129	0	0
BREITBURN ENERGY PARTNERS LP	COM UT LTD PTN	106776107	3,156	172,922	SH		SOLE		172,922	0	0
BRISTOL MYERS SQUIBB CO	COM	110122108	263	5,895	SH		SOLE		5,895	0	0
CANADIAN NATL RY CO	COM	136375102	55,527	570,853	SH		SOLE		570,853	0	0
CANADIAN NATL RY CO	COM	136375102	104	1,065	SH		DFND		1,065	0	0
CARDINAL HEALTH INC	COM	14149Y108	52,132	1,104,494	SH		SOLE		1,104,494	0	0
CATERPILLAR INC DEL	COM	149123101	6	70	SH		DFND		70	0	0
CATERPILLAR INC DEL	COM	149123101	561	6,805	SH		SOLE		6,805	0	0
CHEVRON CORP NEW	COM	166764100	1,695	14,325	SH		SOLE		14,325	0	0
CHURCH & DWIGHT INC	COM	171340102	55,162	893,890	SH		SOLE		893,890	0	0
COCA COLA CO	COM	191216100	710	17,703	SH		SOLE		17,703	0	0
COLGATE PALMOLIVE CO	COM	194162103	573	10,004	SH		SOLE		10,004	0	0
CONOCOPHILLIPS	COM	20825C104	305	5,049	SH		SOLE		5,049	0	0
DANAHER CORP DEL	COM	235851102	2	30	SH		DFND		30	0	0
DANAHER CORP DEL	COM	235851102	49,255	778,125	SH		SOLE		778,125	0	0
DCP MIDSTREAM PARTNERS LP	COM UT LTD PTN	23311P100	1,449	26,780	SH		SOLE		26,780	0	0
DELEK LOGISTICS PARTNERS LP	COM UNT RP INT	24664T103	215	6,550	SH		SOLE		6,550	0	0
DISNEY WALT CO	COM DISNEY	254687106	3	48	SH		DFND		48	0	0
DISNEY WALT CO	COM DISNEY	254687106	361	5,722	SH		SOLE		5,722	0	0
DOMINION RES INC VA NEW	COM	25746U109	327	5,751	SH		SOLE		5,751	0	0
DU PONT E I DE NEMOURS & CO	COM	263534109	214	4,077	SH		SOLE		4,077	0	0
DUKE ENERGY CORP NEW	COM NEW	26441C204	203	3,009	SH		SOLE		3,009	0	0
ECOLAB INC	COM	278865100	89	1,050	SH		DFND		1,050	0	0
ECOLAB INC	COM	278865100	55,477	651,217	SH		SOLE		651,217	0	0
EL PASO PIPELINE PARTNERS L	COM UNIT LPI	283702108	131	3,000	SH		DFND		3,000	0	0
EL PASO PIPELINE PARTNERS L	COM UNIT LPI	283702108	39,592	906,613	SH		SOLE		906,613	0	0
EMERSON ELEC CO	COM	291011104	627	11,491	SH		SOLE		11,491	0	0
ENBRIDGE ENERGY PARTNERS L P	COM	29250R106	16,684	547,191	SH		SOLE		547,191	0	0
ENERGY TRANSFER EQUITY L P	COM UT LTD PTN	29273V100	120	2,000	SH		DFND		2,000	0	0
ENERGY TRANSFER EQUITY L P	COM UT LTD PTN	29273V100	37,463	626,257	SH		SOLE		626,257	0	0
ENERGY TRANSFER PRTNRS L P	UNIT LTD PARTN	29273R109	101	2,000	SH		DFND		2,000	0	0
ENERGY TRANSFER PRTNRS L P	UNIT LTD PARTN	29273R109	11,142	220,467	SH		SOLE		220,467	0	0
ENTERPRISE PRODS PARTNERS L	COM	293792107	463	7,445	SH		DFND		7,445	0	0
ENTERPRISE PRODS PARTNERS L	COM	293792107	72,012	1,158,686	SH		SOLE		1,158,686	0	0
EOG RES INC	COM	26875P101	5	35	SH		DFND		35	0	0
EOG RES INC	COM	26875P101	58,740	446,085	SH		SOLE		446,085	0	0
EQT CORP	COM	26884L109	347	4,370	SH		SOLE		4,370	0	0
EQT MIDSTREAM PARTNERS LP	UNIT LTD PARTN	26885B100	299	6,120	SH		SOLE		6,120	0	0
EXXON MOBIL CORP	COM	30231G102	15	163	SH		DFND		163	0	0
EXXON MOBIL CORP	COM	30231G102	4,420	48,922	SH		SOLE		48,922	0	0
FAB UNVL CORP	COM	302771100	54	14,825	SH		SOLE		14,825	0	0
FACTSET RESH SYS INC	COM	303075105	48,093	471,777	SH		SOLE		471,777	0	0
FAMILY DLR STORES INC	COM	307000109	546	8,760	SH		SOLE		8,760	0	0
FRANKLIN RES INC	COM	354613101	8	60	SH		DFND		60	0	0
FRANKLIN RES INC	COM	354613101	50,206	369,110	SH		SOLE		369,110	0	0
GENERAL ELECTRIC CO	COM	369604103	130	5,608	SH		DFND		5,608	0	0
GENERAL ELECTRIC CO	COM	369604103	1,512	65,187	SH		SOLE		65,187	0	0
GENESIS ENERGY L P	UNIT LTD PARTN	371927104	16	300	SH		DFND		300	0	0
GENESIS ENERGY L P	UNIT LTD PARTN	371927104	34,315	662,075	SH		SOLE		662,075	0	0
GRAINGER W W INC	COM	384802104	9	35	SH		DFND		35	0	0
GRAINGER W W INC	COM	384802104	53,111	210,607	SH		SOLE		210,607	0	0
HARRIS CORP DEL	COM	413875105	43,231	877,795	SH		SOLE		877,795	0	0
HARRIS CORP DEL	COM	413875105	9	175	SH		DFND		175	0	0
HCC INS HLDGS INC	COM	404132102	52,745	1,223,486	SH		SOLE		1,223,486	0	0
HCC INS HLDGS INC	COM	404132102	10	225	SH		DFND		225	0	0
HEALTH CARE REIT INC	COM	42217K106	201	3,000	SH		SOLE		3,000	0	0
HOLLY ENERGY PARTNERS L P	COM UT LTD PTN	435763107	3,117	81,940	SH		SOLE		81,940	0	0
HORMEL FOODS CORP	COM	440452100	38,418	995,800	SH		SOLE		995,800	0	0
ILLINOIS TOOL WKS INC	COM	452308109	1,209	17,474	SH		SOLE		17,474	0	0
INTEL CORP	COM	458140100	30	1,219	SH		DFND		1,219	0	0
INTEL CORP	COM	458140100	42,929	1,771,745	SH		SOLE		1,771,745	0	0
INTERNATIONAL BUSINESS MACHS	COM	459200101	135	707	SH		DFND		707	0	0
INTERNATIONAL BUSINESS MACHS	COM	459200101	70,913	371,056	SH		SOLE		371,056	0	0
ISHARES TR	BARCLYS 1-3 YR	464287457	155	1,839	SH		SOLE		1,839	0	0
ISHARES TR	BARCLYS TIPS BD	464287176	4,579	40,880	SH		SOLE		40,880	0	0
ISHARES TR	BARCLYS TIPS BD	464287176	157	1,400	SH		DFND		1,400	0	0
ISHARES TR	CORE TOTUSBD ETF	464287226	398	3,715	SH		SOLE		3,715	0	0
ISHARES TR	DJ US TECH SEC	464287721	72	975	SH		SOLE		975	0	0
ISHARES TR	RUSL 2000 GROW	464287648	0	2	SH		SOLE		2	0	0
ISHARES TR	RUSL 2000 VALU	464287630	0	3	SH		SOLE		3	0	0
ISHARES TR	RUSSELL MCP GR	464287481	0	5	SH		SOLE		5	0	0
ISHARES TR	RUSSELL MCP VL	464287473	0	4	SH		SOLE		4	0	0
ISHARES TR	RUSSELL1000GRW	464287614	2	24	SH		SOLE		24	0	0
ISHARES TR	RUSSELL1000VAL	464287598	1	14	SH		SOLE		14	0	0
JOHNSON & JOHNSON	COM	478160104	28	323	SH		DFND		323	0	0
JOHNSON & JOHNSON	COM	478160104	1,620	18,871	SH		SOLE		18,871	0	0
JPMORGAN CHASE & CO	ALERIAN ML ETN	46625H365	349	7,475	SH		SOLE		7,475	0	0
JPMORGAN CHASE & CO	COM	46625H100	730	13,831	SH		SOLE		13,831	0	0
KINDER MORGAN ENERGY PARTNER	UT LTD PARTNER	494550106	32,555	381,207	SH		SOLE		381,207	0	0
KINDER MORGAN MANAGEMENT LLC	SHS	49455U100	1,019	12,190	SH		SOLE		12,190	0	0
LEGACY RESERVES LP	UNIT LP INT	524707304	3,890	146,230	SH		SOLE		146,230	0	0
LEGGETT & PLATT INC	COM	524660107	1,441	46,340	SH		SOLE		46,340	0	0
LINN ENERGY LLC	UNIT LTD LIAB	536020100	310	9,350	SH		DFND		9,350	0	0
LINN ENERGY LLC	UNIT LTD LIAB	536020100	23,867	719,320	SH		SOLE		719,320	0	0
MAGELLAN MIDSTREAM PRTNRS LP	COM UNIT RP LP	559080106	514	9,434	SH		DFND		9,434	0	0
MAGELLAN MIDSTREAM PRTNRS LP	COM UNIT RP LP	559080106	80,063	1,469,040	SH		SOLE		1,469,040	0	0
MARKWEST ENERGY PARTNERS L P	UNIT LTD PARTN	570759100	24,749	370,220	SH		SOLE		370,220	0	0
MCCORMICK & CO INC	COM NON VTG	579780206	13	181	SH		DFND		181	0	0
MCCORMICK & CO INC	COM NON VTG	579780206	44,095	626,712	SH		SOLE		626,712	0	0
MCDONALDS CORP	COM	580135101	53,323	538,618	SH		SOLE		538,618	0	0
MCDONALDS CORP	COM	580135101	99	1,000	SH		DFND		1,000	0	0
MERCK & CO INC NEW	COM	58933Y105	278	5,990	SH		SOLE		5,990	0	0
MICROSOFT CORP	COM	594918104	287	8,310	SH		SOLE		8,310	0	0
MINE SAFETY APPLIANCES CO	COM	602720104	23,204	498,481	SH		SOLE		498,481	0	0
MONSANTO CO NEW	COM	61166W101	50,315	509,266	SH		SOLE		509,266	0	0
NATURAL RESOURCE PARTNERS L	COM UNIT L P	63900P103	9,371	455,573	SH		SOLE		455,573	0	0
NIKE INC	CL B	654106103	3,822	60,015	SH		SOLE		60,015	0	0
NORFOLK SOUTHERN CORP	COM	655844108	1,056	14,539	SH		SOLE		14,539	0	0
NOVO-NORDISK A S	ADR	670100205	66,729	430,593	SH		SOLE		430,593	0	0
NOVO-NORDISK A S	ADR	670100205	316	2,040	SH		DFND		2,040	0	0
NUSTAR ENERGY LP	UNIT COM	67058H102	2,951	64,651	SH		SOLE		64,651	0	0
NUSTAR GP HOLDINGS LLC	UNIT RESTG LLC	67059L102	1,500	56,102	SH		SOLE		56,102	0	0
NUVEEN NY AMT-FREE MUN INCOM	COM	670656107	167	12,542	SH		SOLE		12,542	0	0
OCCIDENTAL PETE CORP DEL	COM	674599105	352	3,941	SH		SOLE		3,941	0	0
ONEOK PARTNERS LP	UNIT LTD PARTN	68268N103	21,736	438,939	SH		SOLE		438,939	0	0
PARK STERLING CORP	COM	70086Y105	1,152	194,915	SH		SOLE		194,915	0	0
PARKER HANNIFIN CORP	COM	701094104	11	115	SH		DFND		115	0	0
PARKER HANNIFIN CORP	COM	701094104	46,832	490,906	SH		SOLE		490,906	0	0
PEPSICO INC	COM	713448108	82	1,000	SH		DFND		1,000	0	0
PEPSICO INC	COM	713448108	2,308	28,216	SH		SOLE		28,216	0	0
PERRIGO CO	COM	714290103	1,574	13,010	SH		SOLE		13,010	0	0
PFIZER INC	COM	717081103	321	11,477	SH		SOLE		11,477	0	0
PHILIP MORRIS INTL INC	COM	718172109	44	506	SH		DFND		506	0	0
PHILIP MORRIS INTL INC	COM	718172109	538	6,212	SH		SOLE		6,212	0	0
PLAINS ALL AMERN PIPELINE L	UNIT LTD PARTN	726503105	65,774	1,178,526	SH		SOLE		1,178,526	0	0
PNC FINL SVCS GROUP INC	COM	693475105	306	4,191	SH		SOLE		4,191	0	0
POLARIS INDS INC	COM	731068102	10	105	SH		DFND		105	0	0
POLARIS INDS INC	COM	731068102	64,420	678,107	SH		SOLE		678,107	0	0
PPG INDS INC	COM	693506107	307	2,100	SH		SOLE		2,100	0	0
PRAXAIR INC	COM	74005P104	47,317	410,882	SH		SOLE		410,882	0	0
PRICE T ROWE GROUP INC	COM	74144T108	2	25	SH		DFND		25	0	0
PRICE T ROWE GROUP INC	COM	74144T108	55,557	758,975	SH		SOLE		758,975	0	0
PROCTER & GAMBLE CO	COM	742718109	2,050	26,632	SH		SOLE		26,632	0	0
PUBLIC SVC ENTERPRISE GROUP	COM	744573106	211	6,470	SH		SOLE		6,470	0	0
PVR PARTNERS L P	COM UNIT REPTG L	693665101	571	20,910	SH		SOLE		20,910	0	0
REGENCY ENERGY PARTNERS L P	COM UNITS L P	75885Y107	2,010	74,525	SH		SOLE		74,525	0	0
RENTECH NITROGEN PARTNERS L	COM UNIT	760113100	12	400	SH		DFND		400	0	0
RENTECH NITROGEN PARTNERS L	COM UNIT	760113100	20,521	697,528	SH		SOLE		697,528	0	0
ROPER INDS INC NEW	COM	776696106	81	650	SH		DFND		650	0	0
ROPER INDS INC NEW	COM	776696106	56,395	453,994	SH		SOLE		453,994	0	0
ROSS STORES INC	COM	778296103	4,209	64,950	SH		SOLE		64,950	0	0
ROYAL DUTCH SHELL PLC	SPON ADR B	780259107	8	125	SH		SOLE		125	0	0
ROYAL DUTCH SHELL PLC	SPONS ADR A	780259206	278	4,357	SH		SOLE		4,357	0	0
ROYAL GOLD INC	COM	780287108	4	100	SH		DFND		100	0	0
ROYAL GOLD INC	COM	780287108	1,331	31,641	SH		SOLE		31,641	0	0
SANOFI	RIGHT 12/31/2020	80105N113	0	250	SH		SOLE		250	0	0
SANOFI	SPONSORED ADR	80105N105	2	40	SH		DFND		40	0	0
SANOFI	SPONSORED ADR	80105N105	1,941	37,676	SH		SOLE		37,676	0	0
SCHLUMBERGER LTD	COM	806857108	2	26	SH		DFND		26	0	0
SCHLUMBERGER LTD	COM	806857108	292	4,076	SH		SOLE		4,076	0	0
SHERWIN WILLIAMS CO	COM	824348106	3	15	SH		DFND		15	0	0
SHERWIN WILLIAMS CO	COM	824348106	51,881	293,775	SH		SOLE		293,775	0	0
SOUTHERN CO	COM	842587107	225	5,109	SH		SOLE		5,109	0	0
SUNOCO LOGISTICS PRTNRS L P	COM UNITS	86764L108	75,340	1,178,104	SH		SOLE		1,178,104	0	0
SUNTRUST BKS INC	COM	867914103	787	24,939	SH		SOLE		24,939	0	0
TEEKAY OFFSHORE PARTNERS L P	PARTNERSHIP UN	Y8565J101	577	17,761	SH		SOLE		17,761	0	0
TELEFLEX INC	COM	879369106	1,150	14,840	SH		SOLE		14,840	0	0
TESORO LOGISTICS LP	COM UNIT LP	88160T107	2,392	39,565	SH		SOLE		39,565	0	0
TEVA PHARMACEUTICAL INDS LTD	ADR	881624209	11,278	287,711	SH		SOLE		287,711	0	0
TEVA PHARMACEUTICAL INDS LTD	ADR	881624209	157	4,000	SH		DFND		4,000	0	0
TJX COS INC NEW	COM	872540109	10	205	SH		DFND		205	0	0
TJX COS INC NEW	COM	872540109	57,388	1,146,385	SH		SOLE		1,146,385	0	0
UNION PAC CORP	COM	907818108	11	70	SH		DFND		70	0	0
UNION PAC CORP	COM	907818108	967	6,266	SH		SOLE		6,266	0	0
UNITED TECHNOLOGIES CORP	COM	913017109	3,848	41,403	SH		SOLE		41,403	0	0
UNS ENERGY CORP	COM	903119105	1,231	27,510	SH		SOLE		27,510	0	0
V F CORP	COM	918204108	17	90	SH		DFND		90	0	0
V F CORP	COM	918204108	62,567	324,082	SH		SOLE		324,082	0	0
VALSPAR CORP	COM	920355104	44,345	685,715	SH		SOLE		685,715	0	0
VALSPAR CORP	COM	920355104	8	125	SH		DFND		125	0	0
VERIZON COMMUNICATIONS INC	COM	92343V104	497	9,863	SH		SOLE		9,863	0	0
VODAFONE GROUP PLC NEW	SPONS ADR NEW	92857W209	21,164	736,273	SH		SOLE		736,273	0	0
VODAFONE GROUP PLC NEW	SPONS ADR NEW	92857W209	57	2,000	SH		DFND		2,000	0	0
W P CAREY INC	COM	92936U109	298	4,500	SH		SOLE		4,500	0	0
WALGREEN CO	COM	931422109	243	5,494	SH		SOLE		5,494	0	0
WAL-MART STORES INC	COM	931142103	74	1,000	SH		DFND		1,000	0	0
WAL-MART STORES INC	COM	931142103	1,565	21,016	SH		SOLE		21,016	0	0
WELLS FARGO & CO NEW	COM	949746101	470	11,390	SH		SOLE		11,390	0	0
WESTERN GAS EQUITY PARTNERS	COMUNT LTD PT	95825R103	1,588	38,565	SH		SOLE		38,565	0	0
WESTERN GAS PARTNERS LP	COM UNIT LP IN	958254104	28,579	440,428	SH		SOLE		440,428	0	0
WILLIAMS PARTNERS L P	COM UNIT L P	96950F104	43,932	851,391	SH		SOLE		851,391	0	0
WILLIAMS PARTNERS L P	COM UNIT L P	96950F104	377	7,300	SH		DFND		7,300	0	0